Great posts ahhaha...
I am long in mutual funds with gold (FSAGX and FDPMX) now 70% my retirement (remaining: 10% cash and 20% Dreyfus small Co. Value) and will not move a dime from those position (Oh! Yes! I will add to mutual gold funds on any down draft).
Regarding my bad moves, I was trying to mimic this successful group that did a real killing in 61 trading days!... article from WSJ... truncated...
He Was a Teen Trader, Turning
A $10,000 Portfolio Into $212,109
By DEBORAH LOHSE
Staff Reporter of THE WALL STREET JOURNAL
Worried about your teenager smoking or drinking?
Well, at least your kid isn't like Aaron Siegel, "day trading" in risky small stocks. The 16-year-old group leader recently won a mock stock-investing tournament for students.
Adviser Jennie Lyons with team leader Aaron Siegel (second from left), whose group made huge profits -- on paper at least -- jumping in and out of risky small stocks. Classmates are Neil Sanchala, David Russcol, Adam Wald (in front) and Eric Berry.
Investing doesn't quite describe Mr. Siegel's activity. Extreme trading is more like it. Mr. Siegel's group took the top prize among some 4,300 teams in the CNBC/MCI tournament not by rigorous analysis of stock fundamentals or buy-and-hold investing. Instead, the group turned "$10,000" of play money into "$212,109" by darting in and out of dozens of small stocks, holding many of them less than a day.
This is known as day trading among Wall Street pros. The team made 198 of these rapid-fire trades, an average of more than three daily during the 61 trading days of the contest. By contrast, other teams averaged just seven trades during the entire contest, according to CNBC. (The Wall Street Journal recently began a U.S.-programming partnership with CNBC but wasn't involved in the contest.)
Coool team!
Good luck and... Siegel be with you!
Gaston |
